UN Global Compact

The Global Compact was formed at the initiative of then UN Secretary General, Kofi Annan, in 1999, because the UN wants business and industry to be more closely associated with the UN’s work. Companies that sign the Global Compact undertake to support 10 principles on human rights, labor standards, the environment and the fight against corruption.

Hydro was among the first companies to sign up as member of the Global Compact in 2000. We strongly support the principles of the GC, and have integrated them into our policies and practices. We operationalize them through development of guidelines, reporting, training, and workshops. Our commitment is also expressed by President and CEO Eivind Reiten in his letter to shareholders in Hydro's Annual report.

In addition to our participation in the Global Compact, we also take active part in the Global Compact Nordic Network. 

To highlight in more detail how we follow up on the 10 Global Compact principles, we have prepared a more specified Communication on Progress. 

    Page    Annual report   hydro.com
Human rights
Principle 1 Support and respect the protection of internationally proclaimed human rights pp. 100-101 Human rights
Principle 2 Make sure not to be complicit in human rights abuses pp. 100-101 Human rights
Labor standards
Principle 3 Uphold the freedom of association and the effective recognition of the right to collective bargaining pp. 100, 102-104 Organization
Principle 4 Elimination of all forms of forced and compulsory labor pp. 100, 103 Human rights
Principle 5 Effective abolition of child labor pp. 100 Human rights
Principle 6 Eliminate discrimination in respect of employment and occupation pp. 100-108

Human rights

Restructuring

Environment
Principle 7 Support a precautionary approach to environmental challenges pp. 97-99 Environment
Principle 8 Undertake initiatives to promote greater environmental responsibility pp. 97-99, 110-112 Environment
Principle 9 Encourage the development and diffusion of environmentally friendly technologies pp. 97-99, 110-112 Environment
  pp. 119-120
Anti-corruption
Principle 10 Work against all forms of corruption, including extortion and bribery pp. 100-101 Integrity and openness

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